Defined Benefit Pension Plan Document

Important Note:
Notwithstanding any information in these Plan Document pages or embedded links, for retirements that are first in pay status on or after April 1, 2017, certain Defined Benefit Plan provisions are scheduled to change in accordance with the adoption of Alternative Schedules 1 or 2 under the Second Critical Status Rehabilitation Plan.

ARTICLE 10 - AMENDMENT OF THE PLAN

This section added by: Amendment 8.
Rehabilitation Plan: The modifications to eligibility and benefit amounts contained within the 2016 Rehabilitation Plan are permanent for all benefits first paid on and after April 1, 2017 absent adoption of further Amendments by the Board of Trustees. As experience warrants, the law permits further reductions in benefits for prospective accruals as may be necessary. The law limits the ability of the Board of Trustees to adopt any benefit restoration or improvement Plan Amendments.


10.1 Subject to the terms and conditions of the Contribution Agreement, the Trust Agreement, and any applicable laws or regulations, the Trustees may at any time or times amend or modify the Plan, retroactively or otherwise, in any respect consistent with the intent of the Plan and with the requirement that at all times the Plan will conform to the applicable requirements of the Labor Management Relations Act, 1947, as amended, the Employee Retirement Income Security Act of 1974, as amended, and to the Internal Revenue Code, and that Employer Contributions will be deductible as an item of expense by the Employer for income tax purposes. No amendment or modification of this Plan may reduce any benefits payable to Pensioners who have retired prior to such amendment or modification. No amendment shall change the vesting schedule under the Plan unless each Vested Participant and each other Participant who is accruing Vesting Service Years as of the later of the date of adoption of or the effective date of such amendment shall have a nonforfeitable percentage of his accrued benefit at least as great as the nonforfeitable percentage determined under the vesting schedule in effect prior to such amendment. No such amendment or modification shall result in any portion of the funds to be recovered by any Employer, the Association or the Union, or cause or result in the expenditure of any portion of the funds for any purpose other than for the exclusive benefit of Participants or beneficiaries, or for any payment or expenditure authorized under the Plan or the Trust Agreement. No amendment or modification of the Plan shall be adopted which will in any way impair the actuarial soundness of the Plan.

10.2 If the Trust Agreement or the Contribution Agreement is amended by the insertion, modification, or deletion of any provisions relating to or affecting this Plan, the Trustees, to the extent legally permissible and in conformity with Section 10.1, shall amend the Plan to effectuate the intent of such amendment of the Trust Agreement or the Contribution Agreement.

10.3 If this Plan is amended, the Trustees shall furnish a copy of such amendment promptly to all Participants, Retirees, Beneficiaries, as well as the Associations, the Union, the Employers, and the Plan administrator.

10.4 It is intended that the Plan will constitute a qualified pension plan under the applicable provisions of the U.S. Internal Revenue Code, as now in effect or hereafter amended. Any modification or amendment of the Plan may be made retroactively, if necessary or appropriate, to qualify or maintain the Plan as a plan meeting the requirements of the applicable provisions of the U.S. Federal tax laws, as now in effect or hereafter amended or adopted, and the regulations issued thereunder.

10.5 No contribution to the Trust required from any Employer by the Trust Agreement shall be recoverable by Employers, or be used for or diverted for purposes other than for the exclusive benefit of the individuals entitled to benefits under the Plan, provided, however, that in the event any Employer shall make any payment to the Trust in excess of the amount required by the Trust Agreement, then (1) to the extent such excess payments by such Employer are currently deductible under Section 404 of the Internal Revenue Code, such excess contributions may be applied in satisfaction of any succeeding payment due from such Employer, or, in the discretion of the Trustees, may be refunded to the Employer within six (6) months of the date the Trustees discover the mistake, and (2) to the extent such excess payments are not currently deductible under Section 404 of the Internal Revenue Code, such excess contributions shall be returned to the Subscribing Employer.

10.6 In no event shall this Plan be merged or consolidated with any other plan, nor shall there be any transfer of assets or liabilities from this Plan to any other plan, unless immediately after such merger, consolidation or transfer, each Covered Employee shall (if the Plan then terminated) be entitled to receive a benefit immediately after the merger, etc., which is equal to or greater than the benefit he was entitled to immediately before the merger, etc. (if the Plan had then terminated).

This section added by: Amendment 8.
10.7 The Plan shall operate in compliance with Internal Revenue Code sections 432(d) and (f), as such while during an Adoption or Funding Improvement or Rehabilitation Plan Period, the Trustees are limited in adopting certain amendments.


10.8 All provisions of this Article are subject to the limitations and restrictions of Article 17 which govern benefits first commencing on and after October 28, 2009.